Trusted Bad Credit Dealership in Los Angeles
Financing a used car is the most practical method of attaining a motor vehicle to the vast majority of Americans. This is not just for students and millennials who have less-than-ideal credit, but for anybody and everybody who does not have the means to purchase a new car right off the dealership. The benefits are many, and they are not just limited to convenience.
The majority of financing is done through financial institutions such as banks, and establishments that specialize in loans, specifically auto loans. Then there is in-house financing, which is becoming an increasingly popular option. First, it is important to understand exactly what in-house financing really is.
In-House Financing: What it is and how it works
In-house financing is basically auto-financing that is done at the dealership, and through the dealership itself. In this scenario, the dealership that is offering the car, is also offering financing options for the car in question, allowing the buyer to obtaining the financing option they want then and there, without having to go to a bank.
To some, this may be the ideal option, since in this case, you do not have to approach different establishments and collect a truckload of paperwork. For the most part, it is the best choice, as we will see below.
Important features of in-house financing
- The dealership is offering the financing plan, which will no doubt be created accordingly with every single vehicle. This means that different classes of vehicle, and even different models, will have a different plan. This way, if there is a certain model of used car that is not the highest in its class, it will not be charged according to the class, as it is through most banks and auto financing facilities. Basically, you will be charged according to the car, its condition, its quality and how much it has been used.
- Through in-house financing, you can get a much better car at a lower monthly plan and down payment, without the worry of large hidden charges and residual value baggage.
- In-house financing is a lot more convenient, as compared to conventional financing. It essentially turns your local used car dealership into a financial institution which can offer vehicle financing, at substantially lower rates as compared to conventional establishments.
Hawthorne Auto Square offers in-house financing on all our vehicles and we give you 5 months to come up with a down payment! If you have bad credit or no credit at all, don’t worry—it doesn’t matter to us. We are the premier Los Angeles buy here pay here dealership!
Give us a call or come on down to 11646 Prairie Avenue, Hawthorne, CA 90250!